Slight turnover slump for Greenyard

Belgian Greenyard has had to deal with a turnover drop in the first quarter of its broken fiscal year, mainly because of a weaker performance in its “long fresh” division. The company points out its like-for-like quarter was very strong.

Weak harvest

The fruit and vegetable producer suffered a 0.5 % like-for-like turnover drop to 1.11 billion euro. According to the company, its strong performance last year was part of the weak performance this time around, although the weaker British pound and the “long fresh” division (frozen and canned food) were to blame as well. The negative exchange rate fluctuations impacted its results by 0.4 %, while the long fresh division’s sales dropped 4 % on a like-for-like basis. According to Greenyard, those numbers are the result of a weak harvest in the previous year.

The company’s other divisions performed slightly better: the horticulture division’s like-for-like turnover grew 2.9 % and the fresh division’s like-for-like sales remained stable. Greenyard will publish its six-month results on 21 November.